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BTRS Holdings, Inc., known as Billtrust, is a market leader in providing cloud-based software and integrated payment processing solutions designed to simplify and automate B2B commerce. The company addresses the inefficiencies of traditional accounts receivable (AR) processes, which are often outdated, manual, and heavily reliant on paper. Billtrust offers essential solutions that cover various aspects of AR, including credit decisioning, online ordering, invoice delivery, payment and remittance capture, cash application, and collections.
Billtrust is spearheading the digital transformation of AR, helping businesses transition from costly paper invoicing and check payments to efficient electronic billing and digital payments. With a growing client base that now includes over 2,600 customers across 36 countries, Billtrust processes more than $1 trillion in invoice dollars annually. The company’s expertise and dedication to delivering meaningful customer outcomes have solidified its position as a trusted partner for finance leaders looking to control costs, improve cash flow, and enhance customer satisfaction.
In recent developments, Billtrust announced four new executive appointments aimed at strengthening its leadership team and bolstering financial resilience amid economic challenges. The new executives include Philip Ragona as Chief Legal Officer, Nick Izquierdo as Executive Vice President of Payments, and Esther Pomeleo-Fowler as Executive Vice President/Chief Customer Officer. Additionally, Christy Green has been promoted to Executive Vice President of Professional Services.
Billtrust continues to innovate with the launch of a new, user-friendly interface for its AI-powered AR software platform. This platform provides enhanced insights and a comprehensive view of AR processes, optimizing cash flow and improving staff productivity. A key feature of the platform is the Days to Pay Index, a proprietary benchmark measurement that offers customers valuable insights into their payment collection efficiency compared to industry peers.
Under its new brand promise, 'Moving Finance Forward,' Billtrust is committed to revolutionizing the order-to-cash process, elevating the customer experience, and helping companies achieve their financial goals faster. The company’s website, Billtrust.com, now features interactive web browsing capabilities and a new e-book titled 'Moving Finance Forward with Unified Order-to-Cash,' offering finance teams resources to leverage advanced analytics, AI, and automation in their AR processes.
Billtrust (NASDAQ: BTRS) appoints Marco Eeman as Managing Director for its European operations, focusing on revenue growth and customer satisfaction. Eeman, formerly with Order2Cash, will lead efforts to enhance efficiency in accounts receivable processes across Europe. Billtrust currently serves over 750 clients in the region and offers a Business Payments Network with connections to more than 70 B2B/B2G networks for secure e-invoicing. Steve Pinado, Billtrust President, expressed confidence in Eeman's leadership and expertise.
Billtrust (NASDAQ: BTRS) has partnered with Johnstone Supply, a top HVACR distributor, to enhance the order-to-cash process for over 90 business owners. This collaboration leverages Billtrust’s invoicing and payment solutions, aimed at accelerating payment processes and improving cash flow. As a result, Johnstone Supply’s business owners can enhance digital payment acceptance and reduce operational costs. This alliance emphasizes Billtrust's expertise in automating accounts receivable for wholesalers, aligning with their mission to streamline B2B commerce.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation and integrated payments, will participate in several investor conferences in August 2022. The company is set to host meetings at the Canaccord Genuity 42nd Annual Growth Conference in Boston, MA on August 11, 2022, and at the 4th Annual Needham Virtual FinTech and Digital Transformation 1X1 Conference on August 17 and 18, 2022. BTRS aims to enhance B2B commerce through innovative cloud-based software solutions.
BTRS Holdings, known as Billtrust, reported a robust second quarter for 2022 with total revenue reaching $49.3 million, a 22.5% increase year-over-year. The software and payments segment surged 35.4% to $33.3 million, driving strong gross profits of $29.5 million. Despite a net loss of $15.2 million, the company provided an optimistic full-year guidance, projecting total revenue between $196 million and $207 million. Adjusted EBITDA is expected to improve, targeting positivity by Q2-Q3 2023 and free cash flow positivity by FY 2023.
Billtrust (NASDAQ: BTRS) announced that Founder & CEO Flint Lane will present at the Credit Research Foundation August Forum from August 8-10, 2022 in Louisville, KY. Lane's presentation, titled “Understanding Digital Lockboxes: What Got You Here Won’t Get You There,” will delve into how digital lockboxes streamline remittance data processing and enhance digital transactions, reducing reliance on paper checks.
The forum will also feature industry leaders discussing credit, accounts receivable, and revenue cycle management.
BTRS Holdings Inc. (NASDAQ: BTRS) will release its second quarter 2022 financial results on August 9, 2022, after market close. CEO Flint Lane and CFO Mark Shifke will host a conference call at 4:30 p.m. ET the same day to discuss the results. Interested parties can access the call via webcast or by phone (855-327-6837 for U.S., 631-891-4304 for international). A replay will be available on Billtrust’s investor relations website following the call.
Billtrust (NASDAQ: BTRS) commissioned Paradoxes, Inc. to conduct a research study on the evolving role of CFOs. The study indicates that traditional CFO roles are shifting towards leaders adept in data and technology, with 89% of current CFOs acknowledging the necessity of understanding data across the organization. Notably, only 33% of aspiring CFOs believe their company infrastructure is modernized, and 47% prioritize customer satisfaction initiatives. These insights are detailed in the white paper "The DNA of Future CFOs" and highlight the changing demands on future financial leaders.
BTRS Holdings Inc. (NASDAQ: BTRS), a leader in B2B accounts receivable automation, has announced a Virtual Investor Session scheduled for Wednesday, June 22, 2022, at 11:00 a.m. ET. This session will feature updates on the company’s mission, strategy, and business initiatives from its senior leadership team, followed by a Q&A segment. Interested parties can register and access the event via investors.billtrust.com. A replay will be available for 30 days post-event.
JAGGAER has partnered with Billtrust to enhance its Autonomous Commerce strategy, streamlining invoicing and reducing procurement risks. This collaboration allows suppliers to automate invoicing, decreasing manual tasks and associated costs. By improving cash flow for suppliers, it enhances their financial resilience. The partnership also promotes interoperability, facilitating growth for suppliers while simplifying processes for buyers. The move aligns with JAGGAER’s commitment to a fully digitized B2B commerce experience.
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